Northwest & Ethical Investments L.P. Has $3.51 Million Stock Holdings in Kraft Heinz Company $KHC

Key Points

• Northwest & Ethical Investments L.P. increased its stake in Kraft Heinz Company by 42.0%, owning 115,470 shares worth $3.51 million as of the latest quarter.
• Multiple institutional investors have also increased their positions in Kraft Heinz, with 78.17% of the stock owned by institutional investors.
• Kraft Heinz reported a quarterly earnings per share of $0.69, exceeding estimates, while its revenue was down 1.9% year-over-year, highlighting mixed performance.

Northwest & Ethical Investments L.P. boosted its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 42.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,470 shares of the company's stock after buying an additional 34,143 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Kraft Heinz were worth $3,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Klingenstein Fields & Co. LP increased its position in Kraft Heinz by 4.6% in the 1st quarter. Klingenstein Fields & Co. LP now owns 7,867 shares of the company's stock valued at $239,000 after buying an additional 344 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its position in Kraft Heinz by 4.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company's stock valued at $307,000 after buying an additional 386 shares in the last quarter. Meeder Advisory Services Inc. increased its position in Kraft Heinz by 2.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company's stock valued at $459,000 after buying an additional 393 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in Kraft Heinz by 1.6% in the 1st quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company's stock valued at $779,000 after buying an additional 397 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Kraft Heinz by 0.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company's stock worth $2,101,000 after purchasing an additional 397 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on KHC shares. Stifel Nicolaus decreased their price objective on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. UBS Group boosted their price objective on Kraft Heinz from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company boosted their price objective on Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. DZ Bank lowered Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Friday, May 9th. Finally, Sanford C. Bernstein lowered Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.35.

Insider Buying and Selling

In related news, Director Elio Leoni Sceti sold 25,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the transaction, the director owned 40,000 shares in the company, valued at approximately $1,116,400. This represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.35% of the company's stock.

Kraft Heinz Stock Performance

KHC stock opened at $27.67 on Monday. The firm has a market cap of $32.75 billion, a PE ratio of -6.16, a P/E/G ratio of 3.22 and a beta of 0.23. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $27.02 and a 200-day moving average of $28.38. Kraft Heinz Company has a 12-month low of $25.44 and a 12-month high of $36.53.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.26 billion. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. Kraft Heinz's quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. As a group, sell-side analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be paid a $0.40 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 5.8%. Kraft Heinz's dividend payout ratio is presently -35.63%.

Kraft Heinz Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Company (NASDAQ:KHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.